China's WeChat Alipay does both, but lets India steal first place in digital payments? Netizens: Impossible www.deekpay.com

## India leads the world in digital payments? Chinese people are not convinced! India's Prime Minister recently let slip that India's digital payments lead the world, accounting for 40% of the global digital payments.This can make the Chinese people angry, we are the world's second oldest, is the digital payment is not as good as you India? Don't worry, things are not that simple. India is said to be "digital payment", and we usually use Alipay, WeChat payment, just "mobile payment". The two are very different. Mobile payment is only the network of the payment process, while the digital payment is from the currency issue to the payment of the whole process of digitisation. To make an analogy, mobile payment is like buying things online, using Alipay or WeChat payment, but the money is still in the bank card. And digital payment is equivalent to the central bank directly issued a set of digital RMB, the money in your mobile phone is this digital currency. What is India leading by? India's digital payment system is called UPI, which is equivalent to an online platform that integrates all bank accounts. Its advantages are that it is safe, convenient, fast, enables cross-border payments, and has a very high usage rate. The Indian government has also given a big push to digital payments, and the digital payments index has grown rapidly, now surpassing cash and non-digital payments. How are digital payments developing in China? China's digital payment development is also fast, but it is still mainly mobile payment, the digital RMB app is being piloted but not yet popularised. How is digital RMB better than Alipay WeChat? Digital RMB is issued by the central bank, and transactions do not require fees, which is more convenient, faster and safer. At the same time, it can help the country to better count economic data and improve the efficiency of economic operation. The two countries have their own advantages in digital payment, and we should learn from India to speed up the promotion and popularisation of digital RMB and enhance our international competitiveness. ## Summary: India's digital payment lead is not a lead in mobile payment, but a lead in the issuance and application of digital currency. China leads the world in mobile payments, but there is still a lot of potential for the popularisation and development of digital currencies. We should learn from India's experience, accelerate the promotion of digital RMB, and enhance China's international competitiveness in the field of digital payment.